topic Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!? in Understanding FICO® Scoring

42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

pacem_et_libertatum — Wed, 12 Oct 2022 19:48:53 GMT

Hello friends ~

Please help me understand why I have a 42 point drop with the only change being my CH7 dropped off?

TU FAKO 628 to 586 (via CreditKarma)

Data points:

Payment History 100%

Derogs = 0

UTI = 24%

Cred Age = 3Y 10M

Total Accts = 31

INQ = 2

I understand what re-bucketing is, but I've only seen point drops like this (actually smaller drops of 15-25 points) when BK drops but there are still IIB accounts, collections or other derogs.

Any ideas why such a plummet when I have a clean file?

Thanks in advance!

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

GZG — Wed, 12 Oct 2022 20:13:09 GMT

@pacem_et_libertatum wrote:
Hello friends ~

Please help me understand why I have a 42 point drop with the only change being my CH7 dropped off?

TU FAKO 628 to 586 (via CreditKarma)

Data points:
Payment History 100%
Derogs = 0
UTI = 24%
Cred Age = 3Y 10M
Total Accts = 31
INQ = 2

I understand what re-bucketing is, but I've only seen point drops like this (actually smaller drops of 15-25 points) when BK drops but there are still IIB accounts, collections or other derogs.

Any ideas why such a plummet when I have a clean file?

Thanks in advance!

Because it's FAKO?

I lost 91 points for two charge offs falling off.

I'm not sure how many people here are knowledgeable enough to understand why changes would impact FAKO scores the way that they do. With FICO, with the knowledge here, you can make reasonable educated guesses as to why things made changes. Idk if there's something like that for FAKO

I think it would be fairly safe to say that a BK falling off is a good thing for FICO and that's where I would focus my energy and not worry too much about FAKO scores. My FAKO was down to 419 a few months prior, now I'm above 650

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

FireMedic1 — Wed, 12 Oct 2022 20:24:58 GMT

Congrats!

If you want to see the real TU FICO score since you only mentioned them. $19.95 for a one time pull. That will give you a ballpark idea what the others will be once the BK has fallen off. Its FAKO. Or do you have any cards that give a FICO score?

https://www.myfico.com/products/fico-score-credit-reports

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

pacem_et_libertatum — Wed, 12 Oct 2022 20:28:50 GMT

Excellent point, GatoradeZeroGuy!

Holy smokes 91 points is quite a drop. Even tho' it's FAKO, quite a shock don't you think? Gets one's dander up a bit lol!

Well, I appreciate you guiding my focus back to the IMPORTANT score. I will hope for a nice improvement like you've seen ~ happy for you! ~ in the subsequent months. Looks like you're doing nicely these days. Rock on!

@GZG wrote:
@pacem_et_libertatum wrote:
Hello friends ~

Please help me understand why I have a 42 point drop with the only change being my CH7 dropped off?

TU FAKO 628 to 586 (via CreditKarma)

Data points:
Payment History 100%
Derogs = 0
UTI = 24%
Cred Age = 3Y 10M
Total Accts = 31
INQ = 2

I understand what re-bucketing is, but I've only seen point drops like this (actually smaller drops of 15-25 points) when BK drops but there are still IIB accounts, collections or other derogs.

Any ideas why such a plummet when I have a clean file?

Thanks in advance!
Because it's FAKO?

I lost 91 points for two charge offs falling off.

I'm not sure how many people here are knowledgeable enough to understand why changes would impact FAKO scores the way that they do. With FICO, with the knowledge here, you can make reasonable educated guesses as to why things made changes. Idk if there's something like that for FAKO

I think it would be fairly safe to say that a BK falling off is a good thing for FICO and that's where I would focus my energy and not worry too much about FAKO scores. My FAKO was down to 419 a few months prior, now I'm above 650

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

pacem_et_libertatum — Wed, 12 Oct 2022 20:39:18 GMT

@FireMedic1 wrote:
Congrats!
If you want to see the real TU FICO score since you only mentioned them. $19.95 for a one time pull. That will give you a ballpark idea what the others will be once the BK has fallen off. Its FAKO. Or do you have any cards that give a FICO score?
https://www.myfico.com/products/fico-score-credit-reports

Thanks, FireMedic1!

I appreciate the suggestions. I have credit monitoring via Experian and took a trial offer that offer on Creditworks and pulled all 3 bureaus. TU was last pulled in Aug and was 678 with the BK and now 674 with it having dropped off. Wow, just wow. Am working my way to AZEO but I really thought with a clean and reasonable file with UTI being relatively low, that I'd break 700. Guess I'm looking at a slight drop (or more) on other 2 CBs. Thoughts?

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

pacem_et_libertatum — Wed, 12 Oct 2022 20:50:12 GMT

It does occur to me that because my UTI is a bit higher than in Aug, that maybe the -4 points on TU FICO is due to that alone, and that maybe the BK dropping off hasn't been factored in yet. Could there be a delay in drop off being 'factored in' to the score. Is that even possible?

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

pacem_et_libertatum — Thu, 13 Oct 2022 04:40:57 GMT

Any other thoughts on this? FICO appears to have dropped 4 pts (vs 42 on FAKO) so it's not too big a drop, but I'm still struggling with the idea that the BK is off and I have a clean file (per data points on OP), and had a score decrease. Not even a tiny bump, or my score staying the same... A lower score!

I did some research on the forum and found another thread addressing score drops after BK falls off and everyone seemed insistent that the only way that would happen is if one didn't do any credit building, had late payments, had IIB's still reporting, or they had some other derogs on file.

So frustrating! The only thing that would make sense (if this is actually a thing) is if my file no longer shows the BK, but the scoring isn't factoring this in yet (a lag, if you will).

Any ideas what is going on with my file? I've clawed my way to this point and am so very disappointed.

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

FireMedic1 — Thu, 13 Oct 2022 10:17:40 GMT

If this is really recent. The score may not have caught up to the BK falling off. CRA monitoring has updates like banks at times. Like it will show you paid a bill. But takes a day or two over the weekend to update. May pop at any time. Did the others update yet? Its got to be more than 4 points once its done.

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

mfinsmi1 — Sun, 16 Oct 2022 23:40:09 GMT

i had 6 late payments changed to on time and my vantage droped 75 points - dont really care since my fico scores went up so dont let it bother u

Re: 42 Pt Drop TU FAKO w/CH7 Drop Off ~ with CLEAN FILE!?

TheKid2 — Mon, 17 Oct 2022 14:53:22 GMT

Dirty scorecards have no penalties for "new credit", so it's possible that when you have accounts less than a year old you weren't being penalized for that until you went clean. Granted AAoA is a factor in all scorecards so I may be reaching here.